Millionaire Lost 50 million Gambling – casino news

Posted by Paul R in Casino News | Comments Off on Millionaire Lost 50 million Gambling – casino news

Sometimes one wonders if he will only see casino news about individuals that got a colossal jackpot and their life fixed (at least in the monetary side) for at least 10 years. Today we will offer enthusiasts a guilty pleasure of our staff, we will present a player that was already a millionaire and ended up not being one. There is one thing as too much gambling and this casino news will tell you why.

Tempted by the Sexy Devil

The Australian player sued the Crown Casino in Melbourne after losing much of his fortune, saying he was lured with free flights and rooms at no cost, lawyers commented that day. One of the most unethical practices made by many casinos is the constant “harass” of its players making them offers they will likely won’t be able to turn down.

Former real estate magnate Harry Kakavas, 52, claimed the casino owed him 50 million Australian dollars (about 38 million U.S. dollars) for losses of 20 million Australian dollars between 2004 and 2006. Today marks the anniversary of the Harry Kakavas odyssey, one that would become the biggest casino news of 2004.

Echoes through the Industry

Kakavas, who admits having Gambling Addiction, was banned of entering the casino in 1995. But when he flew to the United States to play in Las Vegas, the Crown offered advantages to return. The player states that on 30 occasions flew home free on the Gold Coast to Melbourne to play, it registered under a false name as a foreigner to bypass the ban and that gave a lot of cash to start their bets on baccarat tables.

The sad thing about the odyssey of Kakavas was that he didn’t win the trial and his money count was even lower after all the lawyer’s fees. His case is wildly acknowledged as one of the most horrific trails in the history of the industry.